Alchemi has exchanged contracts to buy Grand South, a luxury residential tower development opportunity in Vauxhall, SW8.
The prime residential developer is understood to have paid Network Rail and K2 Property more than £30m for the site at 12-20 Wyvil Road, which has consent for a 37-storey tower.
The scheme will comprise 218 homes, of which 175 will be private, and has an estimated gross development value of more than £250m. It will also include 27,000 sq ft of shops. Cushman & Wakefield and Knight Frank advised the vendors.
